Libor rate

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vrujesh a hariyani

vrujesh a hariyani (Querist)
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17 August 2014 what is libor rate for what purpose it is to be used???

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 August 2014 LIBOR is the interest rate that banks charge each other for one-month, three-month, six-month and one-year loans. LIBOR is an acronym for London InterBank Offered Rate. This rate is that which is charged by London banks, and is then published and used as the benchmark for bank rates all over the world.

LIBOR is compiled by the British Bankers Association (BBA), and is published 11 am each day in conjunction with Reuters. It is comprised from a panel of banks representing countries in each of the quoted currencies. The banks are asked what rate they would charge for a given currency and a given length of time. Based on the survey, the BBA quotes the LIBOR rate for each of ten currencies, for 15 different maturities -- anywhere from overnight to 12-month loans.

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